The trend of growing mustaches and beards is becoming more prevalent during the forecast period and is expected to boost the growth of the beard care products market globally.
According to the latest Arizton's market research report, the beard care market size to cross USD 4 billion by 2025, growing at a CAGR of over 6% during the forecast period.
Beard Care Market Growth
The trend of growing mustaches and beards is becoming more prevalent during the forecast period and is expected to boost the growth of the beard care products market globally. The exposure to global brands and products with the rise in purchasing power among millennials are enhancing the market growth. The improvement in self-attractiveness and maintaining high levels of self-hygiene is considered to be a major focus area for young men which is driving the growth of the beard oil in the market. People who have undertaken the expensive beard transplantation process to prevent hair loss is likely to lead the market growth for beard care products such as oil, moisturizers, wax, and more. The preference among men for advanced grooming products has led to the growth in development of new product categories over the past five years.
Impact of COVID-19
The lockdown implemented by government across the geography due to COVID-19 pandemic has disrupted the supply chain of beard care product in the market. Closure of distribution channels such as supermarkets, hypermarkets, and drug stores has affected the sales of grooming and beard care products across the globe. The reopening of distribution channels post lockdown is expected to meet the necessary demands and is expected to rise the demand for beard care products. However, people in Europe and APAC region have started experimenting more with their facial hair as they stay indoors that has led to the substantial usage of existing stocks in homes and created new demands as well.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by products, end-users, age group, distribution channel, and geography
- Competitive Landscape – 25 Prominent Vendors are Profiled in the Report
Beard Care Market– Geographic Analysis
In 2019, Europe was the largest market in the beard care industry and its dominance is expected to continue during the forecast period. European dominance is mainly due to the consistent growth in the beard-growing culture and trends like the No-Shave November and moustache growing competition that have been common in the region for decades. In Canada the consumer preference in the male grooming industry has shifted towards beard moisturizing balms and oils. This demand is being catered by beard shaving companies and the local barbershops in the country.
The entry of numerous domestic and local vendors in beard care market is posing a tough challenge to the major vendors across all the geographies. The market will also witness a competitive landscape where the vendors will try to enhance their market share. It is also estimated that many brands are focusing on growth opportunities in the market and are making efforts to launch new products under the beard oil and the moisturizer segments in the coming years. Vendors are expected to target the local saloons to increase their presence in the market. The salons feature exclusive range of beard care products for consumption that led to wider market acceptance and awareness of its products.
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